I believe that what we have here is unprecedented, in other words no one has ever seen anything quite like this before. So obviously that creates disbelief and people saying stuff like “If it sounds too good to be be true it probably is” I think this kind of thinking is actually keeping the stock price lower than it should be.. Perhaps in this particular case the word “probably” is key, meaning when it sounds too good to be true there are rare cases when it actually is true.
Please I want to know, can anyone tell me of a comparable story? ever?
Ok I may be wrong here because I don’t know the discovery stories behind any of these deposits and I guess some of them were probably found by tiny explorers but these are all single deposits so they are not comparable in that way but I thought I would post this link anyway because it does demonstrate the size potential of single deposits.. the biggest being 106 million ounces of gold.. now that’s what you call a mother load :D
worlds top 10 gold deposits
A year ago my thinking was that in 17 years of investing in junior explorers I could count on one hand the times Ive seen a story with so much potential. That has changed, now I am saying I have never seen anything like this and I am hearing many experts, people who have been in the business for 30 / 40 / 50 years also saying the same. The fact is no one has ever seen anything quite like this before! One small explorer owning a whole district!
Hemlo for eg was several separate companies. Aurelian was only one deposit and it was way out in the amazonian jungle.. Atac looked like a gold district but it's hundreds of miles away from infrastructure and drilling, which they can only do for a few months every year, costs a fortune compared to GBR.. there are other comparisons but nothing, as far as I am aware, quite the same as this:
One tiny company
50 million shares outstanding fully diluted of which less than 40% free trading (20 million)
Current market cap about $400 million CAD
Enough cash ($18 Million CAD) in the bank and in the money warrants to finance exploration / drilling through this year and next year.
Able to drill all year round and are doing that currently with 3 drills and are planning to add 2 more.
Proven reputable management with a lot of skin in the game
Shares owned by Rob McEwan (14%) and Rob Cudney (3%) among other well known Mining people who have already had success in the Red Lake district.
Technical people who understand Red Lake geology and mining
On the doorstep of all needed infrastructure
In a well established mining district right next door to the highway
In probably the most politically safe and most mining friendly country on the planet
Currently drilling on the 100% owned royalty free Dixie property
Have currently discovered 5 zones of high grade gold all open in every direction
The Hinge and Limb zones showing all the characteristics of the Red Lake mine except higher grade near surface.
BR, Yuma and Auro all on the LP fault which runs for 18 kilometres from one end to the other of the Dixie property
Have hit gold in every hole so far in approx 50,000 meters of drilling. Not sure of this figure but I think around 50k?
“It’s amazing. The feedback we get from the technical people say this is a once in lifetime discovery.”
Campbell McCrary (OM Partners LLC New York) responding to feedback from the September 4 GBR Webinar